The Importance Of Trade For Australia's Economy
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Trade between Australia and Japan is very important for both the economies The agreement of trade also made a strong economic trade relationship with each other. Japan has been considered the best customer in trade for the past 40 years to Australia. The strong trade economic relationship has provided a strong and trustworthy example of promoting a community, professional and institutional links between 2 countries. Australia sells more merchandise products to Japan then China. Considering the size difference, Japan being a much smaller country, it shows the relationship Australia has with other countries.
Trade with Australia is important. Japan imports 19.6% of Australia's imported products. Japan is Australia's second largest trading partner (after China). If Australia didn't have this relationship with Japan and the trade, Australia's economic would be much lower. Japan is one of Australia's highest percentages of trade (19.6%) and from 2011-2012, earned Australia 20,300 (A$M) in the time period. If Australia didn't have a trade relationship with Japan, the economy would drop for lack of imported and exported merchandise. Japan provides Australia with transport, vehicles, electronics and gadgets. This would effect Australia's availability to items and transportation. If Japan didn't import these merchandise to Australia, it would effect Australia's daily lifestyle.
In 2011-2012, Japan imported 20,300 (A$M) product merchandise to Australia. In 2011, Australia was ranked 3rd of Japan's imported products with 6.6% of their merchandise. Australia provides Japan with Coal, Iron and Copper Ores and concentrates, aluminium, Nickle, Wheat, Sugar and Beef. Japan has different conditions to Australia, making it hard for them to grow and collect these products. Australia supply's them with these products through the trade. Australia is also ranked 4th on Japans export trade.
Overall, if Australia didn't have the strong trade relationship with Japan, Australia's economy would be effect. It would reduce the money Australia earns, the products Australia receives and lower Australia's trust in trade with other countries. Japan is one of Australia's main trades and it's a very strong relationship and without the trade, Australia's merchandise products would also be effected. The economy that Australia earns would also loose 51,171 (A$M) of earning each year.
Trade with Australia is important. Japan imports 19.6% of Australia's imported products. Japan is Australia's second largest trading partner (after China). If Australia didn't have this relationship with Japan and the trade, Australia's economic would be much lower. Japan is one of Australia's highest percentages of trade (19.6%) and from 2011-2012, earned Australia 20,300 (A$M) in the time period. If Australia didn't have a trade relationship with Japan, the economy would drop for lack of imported and exported merchandise. Japan provides Australia with transport, vehicles, electronics and gadgets. This would effect Australia's availability to items and transportation. If Japan didn't import these merchandise to Australia, it would effect Australia's daily lifestyle.
In 2011-2012, Japan imported 20,300 (A$M) product merchandise to Australia. In 2011, Australia was ranked 3rd of Japan's imported products with 6.6% of their merchandise. Australia provides Japan with Coal, Iron and Copper Ores and concentrates, aluminium, Nickle, Wheat, Sugar and Beef. Japan has different conditions to Australia, making it hard for them to grow and collect these products. Australia supply's them with these products through the trade. Australia is also ranked 4th on Japans export trade.
Overall, if Australia didn't have the strong trade relationship with Japan, Australia's economy would be effect. It would reduce the money Australia earns, the products Australia receives and lower Australia's trust in trade with other countries. Japan is one of Australia's main trades and it's a very strong relationship and without the trade, Australia's merchandise products would also be effected. The economy that Australia earns would also loose 51,171 (A$M) of earning each year.